Tech stocks were sharply lower Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 1.7% and the Philadelphia Semiconductor index falling 2.9%.
In company news, NVIDIA (NVDA) launched NeMo Guardrails, an open-source software designed to help developers keep generative AI applications powered by large language models “accurate, appropriate, on topic and secure.” The company’s shares were declining 2.2%.
Cognizant Technology Solutions (CTSH) said it will manage and support the global technology operations of athletic footwear and apparel giant Nike (NKE) under a new five-year deal. Cognizant shares were down 1.5%.
IBM (IBM) and Noname Security, an API security provider, have collaborated to offer enhanced protection from vulnerabilities, misconfigurations, and design flaws for IBM, the latter said Tuesday. IBM shares were edging up 0.3%.
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